Netflix, Inc. (NASDAQ: NFLX) is off the highs of the day on rumors Carl Icahn may have liquidated his position in the name. After trading up as much as 5.8 percent earlier, shares are now up just 1.7 percent.

Mr. Icahn's latest filing showed he owned 5,541,066 shares, or 9.98 percent of the shares outstanding. He first disclosed the position in late-October, with shares trading 40 percent lower at that point.

While it is in the realm of possibility that Icahn is selling, it would not be his M.O. to sell out without at least making an attempt to imposes his will on the company. In this case, he believes Netflix should be sold. Also, Mr. Ichan has some very strong gains in Netflix and is likely happily riding those gains in the stock.

Because he is a 13D filer on Netflix, Mr. Icahn would have only days to amended his 13D if he had made any significant sales. Icahn's last amendment was 11/19/12.